10 minutes agoThe FED has cut rates by .50bps and there are more cuts are expected so the meeting in OCT will be on to watch if we get another 50 or even a 25 we will be looking a pumptober.
BTC went as high as 64,000 in the days after the decision, if we look at the volume profile we can see we are resting on the top of a big gaps that if broken we could see a drop to 59,000-60,000. I’m cautious here the combination of gold being at an ATH and the QQQ dipping at the end week with the FACT that historically rate cuts have lead to the ST declines plus the future have a negative lead on spot if we can hold this level though I will open of a position long but I will be very fast to take profits. Also options have been approved for IBIT now the OCC and CFTC have to approved them before they list but this is very very bullish. The big boys trade mainly in options due to the fact you can be non directional and well trad fi degens are the OG degens and they like leverage. Overall I’m bullish and I think 2025 will be the banana phase so prepare for opportunities now not that that anyone asked.